The Model 3 will cost $35,000 before government subsidies, making it $40,000 less than the larger Model S, and putting it in line with the BMW’s 3 Series.

Tesla is no stranger to production delays. Its Model X crossover was supposed to debut in 2013, but that date was pushed back to late 2015. At the time of this writing, Tesla has yet to debut a production version of the Model X. Read more…